Given that the price in a competitive industry is 100 the firm's total equation is given as TC=50+20q+q2 Determine the firm's total stock revenue,the profit equation, the quantity which maximizes the profit , profit that maximizes the quantity
Given that the price in a competitive industry is 100 the firm's total equation is given as TC=50+20q+q2 Determine the firm's total stock revenue,the profit equation, the quantity which maximizes the profit , profit that maximizes the quantity
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition
Section: Chapter Questions
Problem 5E
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Determine the firm's total stock revenue,the profit equation, the quantity which maximizes the profit , profit that maximizes the quantity
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